Home Depot (NYSE:HD) Trading Down 1.6% – Time to Sell?

The Home Depot, Inc. (NYSE:HD)’s stock price was down 1.6% during mid-day trading on Tuesday . The company traded as low as $367.00 and last traded at $368.49. Approximately 669,951 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 3,298,198 shares. The stock had previously closed at $374.65.

Analysts Set New Price Targets

HD has been the topic of several analyst reports. Truist Financial dropped their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Wedbush reaffirmed an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Mizuho raised their price objective on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Bank of America increased their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Trading Down 4.7 %

The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a market capitalization of $345.12 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The firm’s fifty day simple moving average is $399.01 and its 200 day simple moving average is $399.78.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.82 earnings per share. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.65%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Institutional Trading of Home Depot

Several large investors have recently modified their holdings of the stock. Synergy Asset Management LLC bought a new position in shares of Home Depot during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot in the fourth quarter worth $28,000. Navigoe LLC purchased a new position in shares of Home Depot during the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the 4th quarter worth about $32,000. Finally, Quarry LP boosted its holdings in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.